Shopify Inc. (NYSE:SHOP) (TSE:SHOP) – Stock analysts at Jefferies Financial Group raised their Q2 2021 earnings per share estimates for shares of Shopify in a research report issued on Monday, January 11th. Jefferies Financial Group analyst S. Samana now forecasts that the software maker will earn $0.14 per share for the quarter, up from their prior estimate of $0.12. Jefferies Financial Group currently has a “Buy” rating and a $1,250.00 target price on the stock. Jefferies Financial Group also issued estimates for Shopify’s Q3 2021 earnings at $0.26 EPS.
Other research analysts have also issued research reports about the company. Wedbush raised Shopify from a “neutral” rating to an “outperform” rating and upped their price target for the company from $998.00 to $1,300.00 in a research report on Wednesday, September 30th. ValuEngine downgraded Shopify from a “buy” rating to a “hold” rating in a report on Tuesday, December 1st. KeyCorp lifted their price target on shares of Shopify from $1,250.00 to $1,300.00 and gave the company an “overweight” rating in a report on Monday. BidaskClub lowered shares of Shopify from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 6th. Finally, 140166 started coverage on shares of Shopify in a research report on Wednesday, December 2nd. They issued a “neutral” rating and a $950.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $1,058.93.
Shopify stock opened at $1,188.24 on Wednesday. The firm has a market cap of $144.86 billion, a P/E ratio of -1,947.90, a P/E/G ratio of 96.18 and a beta of 1.48. Shopify has a 1-year low of $305.30 and a 1-year high of $1,285.19. The firm has a 50-day moving average of $1,119.79 and a 200-day moving average of $1,027.08. Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Thursday, October 29th. The software maker reported $1.13 EPS for the quarter, topping the consensus estimate of ($0.08) by $1.21. Shopify had a negative net margin of 3.25% and a positive return on equity of 0.32%. The company had revenue of $767.40 million for the quarter, compared to the consensus estimate of $652.60 million. During the same period in the previous year, the firm earned ($0.29) earnings per share. The firm’s revenue for the quarter was up 96.5% on a year-over-year basis.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Pacifica Partners Inc. bought a new position in Shopify in the 3rd quarter valued at approximately $26,000. Rockbridge Investment Management LCC bought a new position in shares of Shopify during the second quarter valued at $34,000. Moser Wealth Advisors LLC purchased a new stake in shares of Shopify during the third quarter valued at $37,000. Arkadios Wealth Advisors increased its holdings in Shopify by 117.6% in the 3rd quarter. Arkadios Wealth Advisors now owns 37 shares of the software maker’s stock worth $39,000 after buying an additional 20 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its position in Shopify by 57.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 55 shares of the software maker’s stock worth $56,000 after buying an additional 20 shares during the last quarter. 59.45% of the stock is owned by institutional investors.
About Shopify
Shopify Inc, a commerce company, provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, build customer relationships, source products, leverage analytics and reporting, and access financing.
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7 Gold Stocks to Buy Before the Fed Changes Its Mind
Just when investors thought that the price of gold couldn’t go any higher, the Federal Reserve added fuel to the fire. On July 29, the Fed said there was not sufficient evidence of an economic recovery to warrant changing their current policies.
Not only does that mean that interest rates will stay at or nor zero, but that the Fed may initiate other actions as well. In his statement after the Fed meeting, chairman Jerome Powell said the Fed was “not even thinking about thinking about raising rates.”
And while the novel coronavirus was certainly a factor, it’s not the only factor. The Fed is looking intently at the collateral damage from the lockdown measures in March and April. Over 14 million Americans who had jobs in February are unemployed. And many of those jobs will not be coming back.
This is creating the perfect scenario for gold and gold stocks. The price of gold has surged over 25% in 2020. At the time of this writing, it sits at $1,953 per ounce. Of course as soon as gold starts to near $2,000 the cries that the rally is over begin.
Are they right again? Maybe, but I’m a little skeptical. Gold always climbs during times of uncertainty. That’s true today more than ever. We’re months away from a presidential election. We’re learning how to live with a novel virus for which there is no vaccine. We have social unrest that has turned into riots in many major cities.
With that in mind, here are seven of the best gold stocks that you can invest in right now.
View the “7 Gold Stocks to Buy Before the Fed Changes Its Mind”.
